Aura's record quarter still needs a stronger finish to meet its goal

AUGO · Published October 9, 2026 · Filing dated October 9, 2026 · Open the filing ↗

Summary

Aura reported a record 95,557 gold-equivalent ounces in the third quarter. That count turns copper and silver into gold at price ratios. Output was up 27% from the second quarter and 29% from a year ago, and sales rose 20% to 93,742 ounces. [C1] Exhibit 99.1, opening paragraphTotal production in Q3 2026, at current prices, reached 95,557 gold equivalent ounces ("GEO") 1, record high production, with 27% increase compared to the previous quarter and 29% higher when compared to Q3 2025.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C81] Exhibit 99.1, footnote 1, gold-equivalent definitionGold equivalent ounces, or GEO, is calculated by converting the production of silver, copper and molybdenum into gold using a ratio of the prices of these metals to that of gold. The prices used to determine the GEO are based on the weighted average price of silver and copper realized from sales at the Aranzazu Mine during the relevant period.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C2] Exhibit 99.1, sales paragraphIn Q3 2026, sales totaled 93,742 GEO, a 20% increase compared to Q2 2026.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm By 3:55 PM on October 9 the stock was up about 10.5%, against about 2.8% for the gold-miner fund GDX. [P01] IEX close, October 8, 2026AUGO closed at $82.56 on October 8, 2026 (IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ [P02] IEX intraday, October 9, 2026AUGO traded at $91.25 at 3:55 PM ET on October 9, 2026 (Tiingo IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ [P03] IEX close, October 8, 2026GDX closed at $86.7 on October 8, 2026 (IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ [P04] IEX intraday, October 9, 2026GDX traded at $89.17 at 3:55 PM ET on October 9, 2026 (Tiingo IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ The 2026 forecast is 340,000 to 390,000 ounces, and Aura's half-year table tracked it at fixed forecast metal prices. On that basis Aura has 246,341 ounces so far this year and made 91,188 in the third quarter. [C24] Exhibit 99.1, section 7, Guidance vs. Actual production tableGold equivalent ounces production ('000 GEO) - 2026 Low High H1 2026 H1 2026 at Guidance metal prices% Aranzazu 68 76 34 31 46%-41% Apoena 37 44 13 13 35% - 30% Minosa 63 70 32 32 51% - 46% Almas 57 63 32 32 56% - 51% Borborema 65 77 31 31 48% - 40% MSG 50 60 16 16 32% - 27% Total 340 390 158 155 46%-40%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C4] Exhibit 99.1, production table, guidance-price rowTotal GEO produced - Guidance Prices 91,188 73,083 73,598 25% 24% 246,341 194,267 27%Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm It needs 93,659 in the fourth quarter for the low end, so a straight repeat falls about 2,500 short. [C4] Exhibit 99.1, production table, guidance-price rowTotal GEO produced - Guidance Prices 91,188 73,083 73,598 25% 24% 246,341 194,267 27%Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C24] Exhibit 99.1, section 7, Guidance vs. Actual production tableGold equivalent ounces production ('000 GEO) - 2026 Low High H1 2026 H1 2026 at Guidance metal prices% Aranzazu 68 76 34 31 46%-41% Apoena 37 44 13 13 35% - 30% Minosa 63 70 32 32 51% - 46% Almas 57 63 32 32 56% - 51% Borborema 65 77 31 31 48% - 40% MSG 50 60 16 16 32% - 27% Total 340 390 158 155 46%-40%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm Three mines carry the gap. Apoena, Serra Grande (MSG in company filings) and Minosa need about 22,300 more ounces than their third-quarter pace. Borborema, Almas and Aranzazu run about 19,800 ahead, and management expects a further rise in the fourth quarter. [C83] Exhibit 99.1, opening paragraph, mine namesMSG ("Mineração Serra Grande")Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C20] Exhibit 99.1, production table by mineAranzazu 24,920 21,534 17,882 16% 39% 58,497 64,271 -9% Minosa 13,344 18,138 14,284 -26% -7% 45,027 53,831 -16% Almas 14,264 15,088 16,130 -5% -12% 46,232 41,107 12% Apoena 6,865 9,248 5,704 -26% 20% 20,094 26,343 -24% Borborema 6 22,842 10,219 14,251 124% 60% 54,194 12,796 324% MSG 13,321 0 7,186 n.a. 85% 29,087 0 n.a. Total GEO produced - Current Prices 95,557 74,227 75,437 29% 27% 253,131 198,347 28%Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C24] Exhibit 99.1, section 7, Guidance vs. Actual production tableGold equivalent ounces production ('000 GEO) - 2026 Low High H1 2026 H1 2026 at Guidance metal prices% Aranzazu 68 76 34 31 46%-41% Apoena 37 44 13 13 35% - 30% Minosa 63 70 32 32 51% - 46% Almas 57 63 32 32 56% - 51% Borborema 65 77 31 31 48% - 40% MSG 50 60 16 16 32% - 27% Total 340 390 158 155 46%-40%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C13] Exhibit 99.1, Aranzazu paragraphAt 2026 Guidance Prices, Aranzazu ended Q3 2026 with a production of 20,552 GEO, 28% higher than Q2 2026.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C5] Exhibit 99.1, chief executive's commentAs expected, Q3 was a clear step up from Q2, and with the further increase we expect in Q4 we remain on track to meet our full-year guidance.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm The figures are preliminary and may change. The real test is the fourth-quarter production update, likely in January, going by the July 10 and October 9 releases. [C6] Exhibit 99.1, preliminary-results cautionFinal Q3 2026 Production Results may differ from those set forth hereinAura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C87] Q2 2026 preliminary production release, datelineROAD TOWN, British Virgin Islands, July 10, 2026 (GLOBE NEWSWIRE)Aura Minerals Form 6-K, Exhibit 99.1: preliminary second-quarter 2026 production, filed July 10, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326004568/exh_991.htm [C88] Exhibit 99.1, datelineROAD TOWN, British Virgin Islands, Oct. 09, 2026 (GLOBE NEWSWIRE)Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm

A growing miner with a hedge, a controller and a busy spending plan

Aura runs six mines. Minosa is in Honduras, Aranzazu, a copper, gold and silver mine, is in Mexico, and the other four are in Brazil. It is also building Era Dorada in Guatemala, which the company says is 13.1% done and on budget. [C7] Exhibit 99.1, About AuraThe Company's six operating assets include the Minosa gold mine in Honduras; the Almas, Apoena, Borborema and MSG gold mines in Brazil; and the Aranzazu copper, gold, and silver mine in Mexico.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C21] Exhibit 99.1, chief executive's comment on Era DoradaAt Era Dorada, construction remains on time and on budget, at 13.1% overall physical progressAura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm Its plan mixes low-cost new mines with cheap buys of high-cost mines it can fix. Serra Grande is the current fix, aimed at a big output jump in 2027. [C71] Corporate presentation, cost curve slideAura's strategy combines low - cost greenfield growth with acquiring higher - cost assets at attractive, low entry prices for turnaround.Aura Minerals Form 6-K, Exhibit 99.1: corporate presentation, filed August 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005790/exh_991.htm [C39] Exhibit 99.1, chief executive's opening commentthe turnaround at MSG is laying the infrastructure and underground development for a significant production step-up in 2027Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm

Aura is controlled by Northwestern Enterprises, a company owned by its chairman. An August company slide put Northwestern at 47.6%, Kapitalo at 6.2% and Capital World Investors at 6.1%. Capital World has since reported 10.2% of 83,836,843 shares. [C47] Exhibit 99.2, note 1, corporate informationAura's ultimate controlling party is Northwestern Enterprises Ltd ("Northwestern"), a company beneficially owned by the Chairman of the board of directors of AuraAura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm [C70] Corporate presentation, shareholder structure slide47.6% Northwestern Enterprises 6.2% Kapitalo 6.1% Capital World InvestorsAura Minerals Form 6-K, Exhibit 99.1: corporate presentation, filed August 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005790/exh_991.htm [C69] Schedule 13G/A, Item 4CWI is deemed to be the beneficial owner of 8,565,040 shares or 10.2% of the 83,836,843 shares believed to be outstanding.Capital World Investors Schedule 13G/A on Aura Minerals, filed October 6, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000142284926000155/primary_doc.xml Director Bruno Mauad, listed on that slide as independent, is a partner of Kapitalo. Its client funds file as possible affiliates of Aura. They gave notice of Brazilian receipt sales from mid-August into late September. [C89] Corporate presentation, board of directors slideBruno Mauad Independent MemberAura Minerals Form 6-K, Exhibit 99.1: corporate presentation, filed August 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005790/exh_991.htm [C90] Form 4 of director Bruno Mauad, footnote 2may be deemed to be indirectly beneficially owned by Bruno Sousa Mauad, a partner of Kapitalo.Form 4 of Aura director Bruno Mauad (Kapitalo), filed June 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000016/primary_doc.xml [C84] Form 144 of Kapitalo Master III fund, relationship to issuerMay be deemed affiliateForm 144 notice of proposed sale by the Kapitalo Master III fund, filed September 29, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000212675226000025/primary_doc.xml [C85] Form 144, earliest sale in the past three months<saleDate>08/19/2026</saleDate>Form 144 notice of proposed sale by the Kapitalo Master III fund, filed September 29, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000212675226000025/primary_doc.xml [C86] Form 144, approximate date of the planned sale<approxSaleDate>09/29/2026</approxSaleDate>Form 144 notice of proposed sale by the Kapitalo Master III fund, filed September 29, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000212675226000025/primary_doc.xml Three receipts equal one share. On September 22, Mauad's filing shows receipts turned into Nasdaq shares. Then 166,000 shares were sold at about $90 to $91, leaving 1,041. [C98] Exhibit 99.1, receipt ratiosince 1 Aura share is equivalent to 3 BDRsAura Minerals Form 6-K, Exhibit 99.1: dividend declaration on second-quarter 2026 results, filed August 6, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005263/exh_991.htm [C104] Form 4, footnote 4, transaction dateconversion rate as of September 22, 2026Form 4 of Aura director Bruno Mauad (Kapitalo) for September 22 trades, filed September 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000042/primary_doc.xml [C91] Form 4, table I, first common share sale (shares sold)<value>107472</value>Form 4 of Aura director Bruno Mauad (Kapitalo) for September 22 trades, filed September 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000042/primary_doc.xml [C92] Form 4, table I, second common share sale (shares sold)<value>58528</value>Form 4 of Aura director Bruno Mauad (Kapitalo) for September 22 trades, filed September 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000042/primary_doc.xml [C95] Form 4, footnote 5These shares were sold in multiple transactions at prices ranging from $89.85 to $90.80, inclusive.Form 4 of Aura director Bruno Mauad (Kapitalo) for September 22 trades, filed September 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000042/primary_doc.xml [C96] Form 4, footnote 6These shares were sold in multiple transactions at prices ranging from $90.80 to $91.50, inclusive.Form 4 of Aura director Bruno Mauad (Kapitalo) for September 22 trades, filed September 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000042/primary_doc.xml [C93] Form 4, table I, common shares owned after the sales<value>1041</value>Form 4 of Aura director Bruno Mauad (Kapitalo) for September 22 trades, filed September 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000042/primary_doc.xml Another 650,000 receipts were sold that day. By late September his filings showed 11,438,991 receipts still held through Kapitalo, about 3.8 million shares. So the slide's 6.2% likely overstates the stake now. [C94] Form 4, table II, Brazilian receipts sold<value>650000</value>Form 4 of Aura director Bruno Mauad (Kapitalo) for September 22 trades, filed September 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000042/primary_doc.xml [C97] Form 4, table II, Brazilian receipts owned after the last reported trade<value>11438991</value>Form 4 of Aura director Bruno Mauad (Kapitalo), filed September 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000045/primary_doc.xml [C98] Exhibit 99.1, receipt ratiosince 1 Aura share is equivalent to 3 BDRsAura Minerals Form 6-K, Exhibit 99.1: dividend declaration on second-quarter 2026 results, filed August 6, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005263/exh_991.htm [C70] Corporate presentation, shareholder structure slide47.6% Northwestern Enterprises 6.2% Kapitalo 6.1% Capital World InvestorsAura Minerals Form 6-K, Exhibit 99.1: corporate presentation, filed August 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005790/exh_991.htm

In the second quarter, Aura booked $336.0 million of revenue. Adjusted EBITDA was $196.7 million. [C25] Exhibit 99.1, headline tableNet Revenue 335,967 382,606 -12% 190,436 76%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C26] Exhibit 99.1, headline tableAdjusted EBITDA 196,659 243,868 -19% 106,224 85%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm Aura defines adjusted EBITDA as profit before taxes, finance costs and depreciation, with some other items removed. [C50] Form 20-F/A, non-IFRS measures, Adjusted EBITDA definitionWe calculate Adjusted EBITDA and Adjusted EBITDA by segment as (Loss) profit for the year, plus current tax, plus (less) deferred tax, plus finance expenses, less finance incomeAura Minerals Form 20-F/A annual report for 2025, filed April 29, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326002783/f20fa_033126.htm Over the last twelve months it reached $802 million. That was at an average gold price of $4,260 an ounce. [C27] Exhibit 99.1, chief executive's opening commentOur LTM Adjusted EBITDA reached US$802 million - the 12th consecutive quarterly increase - supported by an average gold price of US$4,260 per ounce and LTM production of 313k GEO.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm Reported profit was a record $217.7 million. That included a $126.0 million paper gain on gold hedges. Adjusted profit was $97.4 million. [C28] Exhibit 99.1, Headlines, net incomeNet Income: a record US$217.7 million, +129% QoQ with lower current income taxes.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C30] Exhibit 99.1, section 2.8 net income reconciliationUnrealized gain/(loss) with derivative gold collars 126,013 (24,105) n.a.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C29] Exhibit 99.1, Headlines, adjusted net incomeExcluding non-cash gain, mainly related to the MTM of gold collars, adjusted Net Income was US$97.4 millionAura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm

The hedges are collars, which set a floor and a ceiling on the sale price. They cover 166,578 future Borborema ounces through June 2028. [C31] Exhibit 99.1, financial result sectionAll of Aura's outstanding gold collars (166,578 Ozs) are associated with the future production of Borborema and will expire between July/2026 and June/2028.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C41] Exhibit 99.2, derivative options noteThe put/calls collars have floor prices of $1,745 and ceiling prices at $2,400 per ounce of gold expiring between July 2026 and June 2028.Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm The floor is $1,745 an ounce and the ceiling $2,400. With gold far above the ceiling, they cost $37.2 million in cash in the second quarter. [C41] Exhibit 99.2, derivative options noteThe put/calls collars have floor prices of $1,745 and ceiling prices at $2,400 per ounce of gold expiring between July 2026 and June 2028.Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm [C32] Exhibit 99.1, Headlines, recurring free cash flowRecurring Free Cash Flow: Q2 2026 US$80,230, -15% QoQ, as lower EBITDA, increased CAPEX (+49% QoQ as part of the Company's plan and Guidance), and higher realized losses on gold hedges (+12%, to US$37.2 million)Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm Those losses sit in finance expenses, which adjusted EBITDA adds back, so they hit free cash flow but not adjusted EBITDA. [C49] Exhibit 99.2, finance expenses noteRealized loss with derivative gold collars (37,249) (11,703) (70,574) (17,739)Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm [C50] Form 20-F/A, non-IFRS measures, Adjusted EBITDA definitionWe calculate Adjusted EBITDA and Adjusted EBITDA by segment as (Loss) profit for the year, plus current tax, plus (less) deferred tax, plus finance expenses, less finance incomeAura Minerals Form 20-F/A annual report for 2025, filed April 29, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326002783/f20fa_033126.htm A 10% move in gold shifts the hedges' value by about $69.6 million. [C48] Exhibit 99.2, market risk sensitivity tableDerivative financial instruments (Gold collars) Gold price increase/decrease D 10% 69,630Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm

Costs ran high in the first half. All-in sustaining cost, Aura's broad cost per ounce, was $1,906. That is above the top of its $1,720 to $1,865 range. [C36] Exhibit 99.1, Headlines, cost performanceIn H1 2026, AISC was US$1,906/GEO (+31% YoY) and US$1,615/GEO ex-MSG and the Company remains on track to deliver its AISC Guidance of US$1,720-US$1,865 in 2026, including MSG.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm The company still says it is on track. Serra Grande was the drag, at $5,277 an ounce in the second quarter. [C36] Exhibit 99.1, Headlines, cost performanceIn H1 2026, AISC was US$1,906/GEO (+31% YoY) and US$1,615/GEO ex-MSG and the Company remains on track to deliver its AISC Guidance of US$1,720-US$1,865 in 2026, including MSG.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C37] Exhibit 99.1, Headlines, cost performancelargely driven by MSG (US$5,277/GEO, +41%)Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm

On September 18, Aura signed a $200 million loan at its holding company. It pays a floating rate (SOFR) plus 2.70% for five years, with two years of grace. [C61] Exhibit 99.1, datelineSept. 18, 2026 (GLOBE NEWSWIRE)Aura Minerals Form 6-K, Exhibit 99.1: $200 million syndicated loan, filed September 18, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006108/exh_991.htm [C57] Exhibit 99.1, loan announcementin the aggregate principal amount of US$200,000,000.00 (two hundred million dollars), as borrower at the holding company level.Aura Minerals Form 6-K, Exhibit 99.1: $200 million syndicated loan, filed September 18, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006108/exh_991.htm [C58] Exhibit 99.1, loan termsThe Loan will bear interest at a rate of SOFR + 2.70% per year with two years grace period and maturity of 5 years.Aura Minerals Form 6-K, Exhibit 99.1: $200 million syndicated loan, filed September 18, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006108/exh_991.htm The money is for supplier payments and production costs. [C59] Exhibit 99.1, use of proceedsThe Company intends to use the net proceeds to finance the Borrower's (or any of its subsidiaries') payments to suppliers and/or to finance the prepayment of its costs of producing and selling its goods.Aura Minerals Form 6-K, Exhibit 99.1: $200 million syndicated loan, filed September 18, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006108/exh_991.htm

On October 2, it agreed to buy a company that will hold the fleet and crews now run by a contractor. They mine Apoena, Almas and Borborema. The handover target is January 2027. [C68] Exhibit 99.1, datelineOct. 02, 2026 (GLOBE NEWSWIRE)Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm [C77] Exhibit 99.1, opening paragraphsigned a definitive agreement to acquire a company ("Newco") that will hold the mining fleet, related equipment leases and dedicated workforce currently operated by a third-party contractor in three of its gold operations in Brazil - Apoena, Almas and BorboremaAura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm [C65] Exhibit 99.1, opening paragraphwith the transition targeted for January 2027Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm The price is R$612 million, about $118 million. Up to R$250 million, about $48 million, is cash. The rest is assumed equipment leases and contingent payments. [C62] Exhibit 99.1, considerationis R$612 million (approximately US$118 million 1), of which up to R$250 million will be paid in cash, with the remainder consisting of the assumption of existing equipment lease financing and the retention of other contingent payments typical for this type of transaction.Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm [C66] Exhibit 99.1, footnote 1converted to US$ at an exchange rate of R$5.18/ US$1.00Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm Aura estimates the deal cuts all-in sustaining cost there by $150 to $200 an ounce from 2027. Closing needs approval from Brazil's antitrust regulator. [C63] Exhibit 99.1, expected cost effectthe Insourcing is expected to reduce all-in sustaining costs (AISC) by US$150 to US$200 per ounce of gold sold, on a weighted-average basis across the three operations, beginning in 2027Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm [C64] Exhibit 99.1, closing conditionsClosing of the transaction is subject to customary conditions precedent, including antitrust clearance from Brazil's Administrative Council for Economic Defense (CADE).Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm

It paid a dividend of $0.72 a share on August 28. That was about $60.4 million. [C53] Exhibit 99.1, dividend declarationof US$0.72 per common share (approximately US$60.4 2 million in total)Aura Minerals Form 6-K, Exhibit 99.1: dividend declaration on second-quarter 2026 results, filed August 6, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005263/exh_991.htm [C54] Exhibit 99.1, payment dateThe Dividend will be paid in US dollars on August 28, 2026Aura Minerals Form 6-K, Exhibit 99.1: dividend declaration on second-quarter 2026 results, filed August 6, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005263/exh_991.htm A $200 million buyback runs until June 18, 2027. By June 30 it had bought 35,449 shares for $2.3 million. [C55] Exhibit 99.1, repurchase programsUnder the Repurchase Programs, Aura may repurchase up to an aggregate US$200 million of its outstanding common shares and Brazilian Depositary Receipts in the open marketAura Minerals Form 6-K, Exhibit 99.1: share repurchase programs, filed June 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326004225/exh_991.htm [C56] Exhibit 99.1, repurchase perioduntil the earlier of the completion of the repurchase or June 18, 2027Aura Minerals Form 6-K, Exhibit 99.1: share repurchase programs, filed June 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326004225/exh_991.htm [C72] Q2 2026 results presentation, executive summaryApproved share repurchase programs of up to US$200 million, effective through June 2027 or until completed.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 results presentation, filed August 6, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005310/exh_991.htm [C45] Exhibit 99.2, share capital note, repurchase of sharesFor the period ended June 30, 2026, the Company has repurchased 35,449 common shares, for the total amount of $2,266 recorded directly in share capital.Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm

What the record proves, and what it leaves open

Three mines drove the gains. Borborema made a record 22,842 ounces, up 60%, as ore grades rose 42% to 1.65 grams a tonne. [C8] Exhibit 99.1, Borborema paragraphAt Borborema, production totaled 22,842 GEO, a quarterly record for the operation and 60% higher than the previous quarterAura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C9] Exhibit 99.1, Borborema paragraphThe increase was driven by higher grades, up 42% (from 1.16 g/t to 1.65 g/t), reflecting access to higher-grade areas in line with the mine plan.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm Serra Grande rose 85% to 13,321 ounces as its turnaround moved ahead. [C10] Exhibit 99.1, Serra Grande (MSG) paragraphAt MSG, production totaled 13,321 GEO, an 85% increase compared to Q2 2026.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C78] Exhibit 99.1, chief executive's commentThe highlight was MSG, where production rose 85% as the turnaround advancedAura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm Aranzazu rose 39% to 24,920 ounces on better grades and prices. Its copper price rose 6% to $6.46 a pound, while its gold price fell 3% to $4,285. [C11] Exhibit 99.1, Aranzazu paragraphAt Aranzazu, production reached 24,920 GEO in Q3 2026, up 39% QoQ, mainly reflecting higher grades in line with mine sequencing and favorable metal price dynamics in the GEO conversion.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C12] Exhibit 99.1, Aranzazu paragraphThe average realized copper price increased 6% QoQ to $6.46/lb (vs. $6.09/lb in Q2 2026), while the average realized gold price decreased 3% to $4,285/oz (vs. $4,416/oz in Q2 2026).Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm

The other three were weaker. Minosa fell 7% to 13,344 ounces on lower ore feed, and Almas fell 12% to 14,264 ounces on lower grades. [C16] Exhibit 99.1, Minosa paragraphAt Minosa, production totaled 13,344 GEO in Q3 2026, 7% lower than Q2 2026 and 26% lower compared to Q3 2025, mainly associated with a decrease in ore plant feed.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C18] Exhibit 99.1, Almas paragraphAt Almas, production totaled 14,264 GEO in Q3 2026, down 12% from Q2 2026 and 5% from Q3 2025. The decrease in both periods was primarily driven by lower gradesAura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm Apoena rose 20%, but only to 6,865 ounces. [C14] Exhibit 99.1, Apoena paragraphAt Apoena, production totaled 6,865 GEO in Q3 2026, up 20% from Q2 2026Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm

Aura reports two totals. At current prices it has 253,131 ounces, so a repeat quarter would give 348,688 and clear the low end. [C3] Exhibit 99.1, nine-month paragraphIn the nine months of 2026 (9M 2026), Aura produced 253,131 GEO at current prices and 255,268 GEO at constant pricesAura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C1] Exhibit 99.1, opening paragraphTotal production in Q3 2026, at current prices, reached 95,557 gold equivalent ounces ("GEO") 1, record high production, with 27% increase compared to the previous quarter and 29% higher when compared to Q3 2025.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C24] Exhibit 99.1, section 7, Guidance vs. Actual production tableGold equivalent ounces production ('000 GEO) - 2026 Low High H1 2026 H1 2026 at Guidance metal prices% Aranzazu 68 76 34 31 46%-41% Apoena 37 44 13 13 35% - 30% Minosa 63 70 32 32 51% - 46% Almas 57 63 32 32 56% - 51% Borborema 65 77 31 31 48% - 40% MSG 50 60 16 16 32% - 27% Total 340 390 158 155 46%-40%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm At fixed forecast prices it has 246,341, and a repeat would give 337,529, below the 340,000 floor. [C4] Exhibit 99.1, production table, guidance-price rowTotal GEO produced - Guidance Prices 91,188 73,083 73,598 25% 24% 246,341 194,267 27%Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C24] Exhibit 99.1, section 7, Guidance vs. Actual production tableGold equivalent ounces production ('000 GEO) - 2026 Low High H1 2026 H1 2026 at Guidance metal prices% Aranzazu 68 76 34 31 46%-41% Apoena 37 44 13 13 35% - 30% Minosa 63 70 32 32 51% - 46% Almas 57 63 32 32 56% - 51% Borborema 65 77 31 31 48% - 40% MSG 50 60 16 16 32% - 27% Total 340 390 158 155 46%-40%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm The gap comes from Aranzazu, whose copper and silver are turned into gold ounces at metal-price ratios. The other mines report actual gold ounces. [C81] Exhibit 99.1, footnote 1, gold-equivalent definitionGold equivalent ounces, or GEO, is calculated by converting the production of silver, copper and molybdenum into gold using a ratio of the prices of these metals to that of gold. The prices used to determine the GEO are based on the weighted average price of silver and copper realized from sales at the Aranzazu Mine during the relevant period.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [W03] Q3 2025 results release, section 2In terms of production and sales, for all assets except Aranzazu, references herein to “GEO” are equivalent to actual gold ounces.globenewswire.com · Read October 9, 2026Open source ↗https://www.globenewswire.com/news-release/2025/11/04/3181022/0/en/aura-announces-q3-2025-and-9m-2025-financial-and-operational-results.html Aura's half-year table measured progress at forecast prices, as it did last year. [C24] Exhibit 99.1, section 7, Guidance vs. Actual production tableGold equivalent ounces production ('000 GEO) - 2026 Low High H1 2026 H1 2026 at Guidance metal prices% Aranzazu 68 76 34 31 46%-41% Apoena 37 44 13 13 35% - 30% Minosa 63 70 32 32 51% - 46% Almas 57 63 32 32 56% - 51% Borborema 65 77 31 31 48% - 40% MSG 50 60 16 16 32% - 27% Total 340 390 158 155 46%-40%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [W02] Q3 2025 results release, HeadlinesAt 2025 Production Guidance Prices, the 9M 2025 production was 203,592 GEO, 3% above 9M 2024, and on track to achieve the 2025 guidance.globenewswire.com · Read October 9, 2026Open source ↗https://www.globenewswire.com/news-release/2025/11/04/3181022/0/en/aura-announces-q3-2025-and-9m-2025-financial-and-operational-results.html

Apoena shows the size of the task: it must make 16,906 ounces in the fourth quarter after 6,865 in the third. Borborema, by contrast, needs only 10,806 after making 22,842. [C24] Exhibit 99.1, section 7, Guidance vs. Actual production tableGold equivalent ounces production ('000 GEO) - 2026 Low High H1 2026 H1 2026 at Guidance metal prices% Aranzazu 68 76 34 31 46%-41% Apoena 37 44 13 13 35% - 30% Minosa 63 70 32 32 51% - 46% Almas 57 63 32 32 56% - 51% Borborema 65 77 31 31 48% - 40% MSG 50 60 16 16 32% - 27% Total 340 390 158 155 46%-40%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C20] Exhibit 99.1, production table by mineAranzazu 24,920 21,534 17,882 16% 39% 58,497 64,271 -9% Minosa 13,344 18,138 14,284 -26% -7% 45,027 53,831 -16% Almas 14,264 15,088 16,130 -5% -12% 46,232 41,107 12% Apoena 6,865 9,248 5,704 -26% 20% 20,094 26,343 -24% Borborema 6 22,842 10,219 14,251 124% 60% 54,194 12,796 324% MSG 13,321 0 7,186 n.a. 85% 29,087 0 n.a. Total GEO produced - Current Prices 95,557 74,227 75,437 29% 27% 253,131 198,347 28%Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm

Management gives a reason for each mine. Apoena reached a richer part of its pit late in the quarter, and that ore will be its main feed now. [C15] Exhibit 99.1, Apoena paragraphDuring the quarter, the operation completed access to the main higher-grade areas of Phase 3, which were already feeding the plant late in the quarter and will be the primary source of ore in Q4.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm Minosa is stacking ore at normal levels again, and Almas moves into higher grades. [C17] Exhibit 99.1, chief executive's commentat Minosa, stacking volumes had already returned to normal levels during Q3, setting the mine up for improved production in Q4Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C19] Exhibit 99.1, Almas paragraphMine sequencing moves into higher-grade areas in Q4.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm Borborema is clearing a slow step in its ore filters to process more. Serra Grande should send more underground ore to the mill over time. [C23] Exhibit 99.1, chief executive's commentBorborema should keep lifting throughput as we debottleneck the filterAura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C22] Exhibit 99.1, Serra Grande (MSG) paragraphFollowing the first half of 2026 focused on mine development, the contribution of these areas to plant feed is expected to increase gradually, in line with the plan to bring MSG to full capacity.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm

Sales rose 20%, which points to more revenue. [C2] Exhibit 99.1, sales paragraphIn Q3 2026, sales totaled 93,742 GEO, a 20% increase compared to Q2 2026.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm The hedges take a cut: at Aranzazu's realized gold price of $4,285, each collar ounce settles about $1,885 below market. [C12] Exhibit 99.1, Aranzazu paragraphThe average realized copper price increased 6% QoQ to $6.46/lb (vs. $6.09/lb in Q2 2026), while the average realized gold price decreased 3% to $4,285/oz (vs. $4,416/oz in Q2 2026).Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C41] Exhibit 99.2, derivative options noteThe put/calls collars have floor prices of $1,745 and ceiling prices at $2,400 per ounce of gold expiring between July 2026 and June 2028.Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm In the second quarter, 17,421 collar ounces settled. [C52] Q1 2026 Exhibit 99.2, derivative options noteAs of March 31, 2026, the Company had 183,999 ounces outstanding for the Borborema Project.Aura Minerals Form 6-K, Exhibit 99.2: first-quarter 2026 interim financial statements, filed May 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326003090/exh_992.htm [C31] Exhibit 99.1, financial result sectionAll of Aura's outstanding gold collars (166,578 Ozs) are associated with the future production of Borborema and will expire between July/2026 and June/2028.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm

The balance sheet looks strong. At June 30 Aura held $248.3 million of cash against $441.2 million of debt. Net debt, which is debt minus cash, was $168.0 million, or 0.21 times adjusted EBITDA over the past year. [C34] Exhibit 99.1, section 6, Gross and Net DebtThe Company's cash position remains comfortable, closing out the quarter at US$248.3 million.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C33] Exhibit 99.1, section 6, Gross and Net DebtTotal gross debt (short and long-term portion) was US$441.2 million at the end of Q2 2026Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C35] Exhibit 99.1, net debt breakdown tableNet Debt 168,026 115,181 46% 280,560 -40% Net Debt/LTM EBITDA 0.21xAura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm The August investor slides printed second-quarter net debt of $115 million and cash of $268 million. Those are the first-quarter figures; the second-quarter statements show $168.0 million and $248.3 million. [C99] Corporate presentation, market data slideUS$268 M Cash (Q2 26) US$115 M Net Debt (Q2 26)Aura Minerals Form 6-K, Exhibit 99.1: corporate presentation, filed August 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005790/exh_991.htm [C35] Exhibit 99.1, net debt breakdown tableNet Debt 168,026 115,181 46% 280,560 -40% Net Debt/LTM EBITDA 0.21xAura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C100] Exhibit 99.1, net debt breakdown table, cash row (Q2 then Q1)Cash and cash equivalents 248,322 267,789 -7% 167,938 48%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C34] Exhibit 99.1, section 6, Gross and Net DebtThe Company's cash position remains comfortable, closing out the quarter at US$248.3 million.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm Loan interest was $6.3 million in the quarter, which adjusted EBITDA covered about 31 times. [C38] Exhibit 99.1, financial result tableInterest expense on loans and debentures (6,266) (6,387) -2% (6,098) 3% (12,653) (11,853) 7%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C26] Exhibit 99.1, headline tableAdjusted EBITDA 196,659 243,868 -19% 106,224 85%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm

Some loans cap net debt at 2.75 times EBITDA, and Aura met all its covenants at June 30. [C43] Exhibit 99.2, loans note, financial covenantsThe agreement has financial covenants where Net Debt should be lower than 2.75x over the last 12 months EBITDA. The covenant is measured on a quarterly basis at Aura Minerals Inc.Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm [C44] Exhibit 99.2, loans note, covenant complianceFor the period ended June 30, 2026 and the year ended December 31, 2025, the Company and its subsidiaries are in compliance with all the financial covenants.Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm Debt due within a year was $65.0 million. Another $99.7 million falls due in the second half of 2027, and $133.2 million in 2028. [C42b] Exhibit 99.2, loans note, current and non-current splitTotal 441,244 411,168 Current 64,985 99,548 Non-Current 376,259 311,620Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm [C42] Exhibit 99.2, loans note, long-term payment scheduleAmount 2027 ** 99,668 2028 133,210 2029 103,653 2030 39,727 2031 onwards - 376,259 ** Includes amounts that become due from July 1, 2027.Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm If fully drawn, the new loan would lift debt to about $641 million, though its cash would leave net debt unchanged at first. [C33] Exhibit 99.1, section 6, Gross and Net DebtTotal gross debt (short and long-term portion) was US$441.2 million at the end of Q2 2026Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C57] Exhibit 99.1, loan announcementin the aggregate principal amount of US$200,000,000.00 (two hundred million dollars), as borrower at the holding company level.Aura Minerals Form 6-K, Exhibit 99.1: $200 million syndicated loan, filed September 18, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006108/exh_991.htm

Spending is rising too. Free cash flow is cash from the mines after upkeep spending, taxes and hedge losses. In the second quarter it was $80.2 million. [C40] Exhibit 99.1, Headlines, net debtan increase QoQ of US$52.8 million due to dividends and shares buybacks of US$67.7 million and expansion capex of US$53.5 million, partially compensated by Recurring Free Cash Flow of US$80.2 million.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C82] Exhibit 99.1, section 4, cash flow table, sustaining capex line(-) Sustaining Capex and Exploration Capex in mines in production (30,111) (20,259) 49% (15,151) 99% (50,370) (28,342) 78%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C82b] Exhibit 99.1, section 4, cash flow table, taxes to recurring free cash flow(-) Income Taxes Paid (40,898) (51,502) -21% (22,570) 81% (92,400) (39,444) 134% (-) Lease Payments (4,246) (4,041) 5% (5,122) -17% (8,287) (9,361) -11% (-) Realized Losses on Gold Hedges (37,249) (33,325) 12% (11,703) 218% (70,574) (17,759) 297% Recurring Free Cash Flow 80,230Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm Dividends and buybacks took $67.7 million and growth projects $53.5 million, so net debt rose $52.8 million. Ahead sit about $48 million of fleet cash, more dividends and Era Dorada. [C40] Exhibit 99.1, Headlines, net debtan increase QoQ of US$52.8 million due to dividends and shares buybacks of US$67.7 million and expansion capex of US$53.5 million, partially compensated by Recurring Free Cash Flow of US$80.2 million.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C62] Exhibit 99.1, considerationis R$612 million (approximately US$118 million 1), of which up to R$250 million will be paid in cash, with the remainder consisting of the assumption of existing equipment lease financing and the retention of other contingent payments typical for this type of transaction.Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm [C66] Exhibit 99.1, footnote 1converted to US$ at an exchange rate of R$5.18/ US$1.00Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm Era Dorada's approved budget is $382 million. Only $15.3 million had been spent by June, leaving about $367 million. First production is expected in the first half of 2028. [C101] Corporate presentation, Era Dorada slideCapex US$382 millionAura Minerals Form 6-K, Exhibit 99.1: corporate presentation, filed August 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005790/exh_991.htm [C102] Exhibit 99.1, Era Dorada updateCumulative investment reached US$15.3 million as of June.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C103] Q1 2026 earnings release, Era Dorada approvalThe project is expected to commence operations in the first half of 2028.Aura Minerals Form 6-K, Exhibit 99.1: first-quarter 2026 earnings release, filed May 7, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326003090/exh_991.htm

Dilution is small: the diluted share count was about 1% above the basic count. [C46] Exhibit 99.2, income statement, share countsBasic 33 83,813,093 74,328,457 83,691,587 73,771,206 Diluted 33 84,754,721 75,199,163Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm

The bull case is momentum where it counts: Borborema and Serra Grande added about 14,700 ounces from the second quarter. [C20] Exhibit 99.1, production table by mineAranzazu 24,920 21,534 17,882 16% 39% 58,497 64,271 -9% Minosa 13,344 18,138 14,284 -26% -7% 45,027 53,831 -16% Almas 14,264 15,088 16,130 -5% -12% 46,232 41,107 12% Apoena 6,865 9,248 5,704 -26% 20% 20,094 26,343 -24% Borborema 6 22,842 10,219 14,251 124% 60% 54,194 12,796 324% MSG 13,321 0 7,186 n.a. 85% 29,087 0 n.a. Total GEO produced - Current Prices 95,557 74,227 75,437 29% 27% 253,131 198,347 28%Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm Leverage is 0.21 times, and the fleet deal promises lower costs from 2027. [C35] Exhibit 99.1, net debt breakdown tableNet Debt 168,026 115,181 46% 280,560 -40% Net Debt/LTM EBITDA 0.21xAura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C63] Exhibit 99.1, expected cost effectthe Insourcing is expected to reduce all-in sustaining costs (AISC) by US$150 to US$200 per ounce of gold sold, on a weighted-average basis across the three operations, beginning in 2027Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm Management's goal is more than 600k ounces a year in the medium term, against 335,198 over the last twelve months. [C60] Exhibit 99.1, chief executive's commenttowards our target of producing over 600k GEO per year in the medium termAura Minerals Form 6-K, Exhibit 99.1: $200 million syndicated loan, filed September 18, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006108/exh_991.htm [C79] Exhibit 99.1, last-twelve-months sentenceOver the last twelve months, at current prices, Aura produced 335,198 GEO, another record highAura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm

The bear case, strongest first. At forecast prices Aura must beat its third-quarter output to reach the low end. Three lagging mines must do most of the work. [C4] Exhibit 99.1, production table, guidance-price rowTotal GEO produced - Guidance Prices 91,188 73,083 73,598 25% 24% 246,341 194,267 27%Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C24] Exhibit 99.1, section 7, Guidance vs. Actual production tableGold equivalent ounces production ('000 GEO) - 2026 Low High H1 2026 H1 2026 at Guidance metal prices% Aranzazu 68 76 34 31 46%-41% Apoena 37 44 13 13 35% - 30% Minosa 63 70 32 32 51% - 46% Almas 57 63 32 32 56% - 51% Borborema 65 77 31 31 48% - 40% MSG 50 60 16 16 32% - 27% Total 340 390 158 155 46%-40%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C20] Exhibit 99.1, production table by mineAranzazu 24,920 21,534 17,882 16% 39% 58,497 64,271 -9% Minosa 13,344 18,138 14,284 -26% -7% 45,027 53,831 -16% Almas 14,264 15,088 16,130 -5% -12% 46,232 41,107 12% Apoena 6,865 9,248 5,704 -26% 20% 20,094 26,343 -24% Borborema 6 22,842 10,219 14,251 124% 60% 54,194 12,796 324% MSG 13,321 0 7,186 n.a. 85% 29,087 0 n.a. Total GEO produced - Current Prices 95,557 74,227 75,437 29% 27% 253,131 198,347 28%Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm Costs are already above the forecast range, and the collars cap the price on hedged Borborema gold until June 2028. [C36] Exhibit 99.1, Headlines, cost performanceIn H1 2026, AISC was US$1,906/GEO (+31% YoY) and US$1,615/GEO ex-MSG and the Company remains on track to deliver its AISC Guidance of US$1,720-US$1,865 in 2026, including MSG.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C31] Exhibit 99.1, financial result sectionAll of Aura's outstanding gold collars (166,578 Ozs) are associated with the future production of Borborema and will expire between July/2026 and June/2028.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C41] Exhibit 99.2, derivative options noteThe put/calls collars have floor prices of $1,745 and ceiling prices at $2,400 per ounce of gold expiring between July 2026 and June 2028.Aura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm Spending and debt are rising. There is a new $200 million loan and about $48 million of fleet cash. Era Dorada is a $382 million build, with $15.3 million spent by June. [C57] Exhibit 99.1, loan announcementin the aggregate principal amount of US$200,000,000.00 (two hundred million dollars), as borrower at the holding company level.Aura Minerals Form 6-K, Exhibit 99.1: $200 million syndicated loan, filed September 18, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006108/exh_991.htm [C62] Exhibit 99.1, considerationis R$612 million (approximately US$118 million 1), of which up to R$250 million will be paid in cash, with the remainder consisting of the assumption of existing equipment lease financing and the retention of other contingent payments typical for this type of transaction.Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm [C66] Exhibit 99.1, footnote 1converted to US$ at an exchange rate of R$5.18/ US$1.00Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm [C101] Corporate presentation, Era Dorada slideCapex US$382 millionAura Minerals Form 6-K, Exhibit 99.1: corporate presentation, filed August 28, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005790/exh_991.htm [C102] Exhibit 99.1, Era Dorada updateCumulative investment reached US$15.3 million as of June.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm One shareholder controls the company, and a fund linked to a director has been selling. [C47] Exhibit 99.2, note 1, corporate informationAura's ultimate controlling party is Northwestern Enterprises Ltd ("Northwestern"), a company beneficially owned by the Chairman of the board of directors of AuraAura Minerals Form 6-K, Exhibit 99.2: second-quarter 2026 interim financial statements, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_992.htm [C90] Form 4 of director Bruno Mauad, footnote 2may be deemed to be indirectly beneficially owned by Bruno Sousa Mauad, a partner of Kapitalo.Form 4 of Aura director Bruno Mauad (Kapitalo), filed June 30, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000016/primary_doc.xml [C95] Form 4, footnote 5These shares were sold in multiple transactions at prices ranging from $89.85 to $90.80, inclusive.Form 4 of Aura director Bruno Mauad (Kapitalo) for September 22 trades, filed September 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000042/primary_doc.xml

The stock traded at $86.48 just after the open, after a $82.56 close the day before. It reached $91.25 by 3:55 PM. [P09] IEX intraday, October 9, 2026AUGO traded at $86.48 at 9:35 AM ET on October 9, 2026 (Tiingo IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ [P01] IEX close, October 8, 2026AUGO closed at $82.56 on October 8, 2026 (IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ [P02] IEX intraday, October 9, 2026AUGO traded at $91.25 at 3:55 PM ET on October 9, 2026 (Tiingo IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ Since mid-September it has closed between $77.79 and $92.80. [P08] IEX close, September 28, 2026AUGO closed at $77.79 on September 28, 2026 (IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ [P07] IEX close, September 22, 2026AUGO closed at $92.8 on September 22, 2026 (IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ At $91.25 Aura is worth about $7.65 billion. Adding net debt, that is about 9.7 times adjusted EBITDA over the past year. Those earnings were made at $4,260 gold. [P02] IEX intraday, October 9, 2026AUGO traded at $91.25 at 3:55 PM ET on October 9, 2026 (Tiingo IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ [C69] Schedule 13G/A, Item 4CWI is deemed to be the beneficial owner of 8,565,040 shares or 10.2% of the 83,836,843 shares believed to be outstanding.Capital World Investors Schedule 13G/A on Aura Minerals, filed October 6, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000142284926000155/primary_doc.xml [C35] Exhibit 99.1, net debt breakdown tableNet Debt 168,026 115,181 46% 280,560 -40% Net Debt/LTM EBITDA 0.21xAura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C27] Exhibit 99.1, chief executive's opening commentOur LTM Adjusted EBITDA reached US$802 million - the 12th consecutive quarterly increase - supported by an average gold price of US$4,260 per ounce and LTM production of 313k GEO.Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm

Full third-quarter results come next; last year's came on November 4. [W01] Q3 2025 results release, datelineROAD TOWN, British Virgin Islands, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (NASDAQ: AUGO) (B3: AURA33)globenewswire.com · Read October 9, 2026Open source ↗https://www.globenewswire.com/news-release/2025/11/04/3181022/0/en/aura-announces-q3-2025-and-9m-2025-financial-and-operational-results.html Brazil's antitrust review of the fleet deal comes before the January 2027 handover. [C64] Exhibit 99.1, closing conditionsClosing of the transaction is subject to customary conditions precedent, including antitrust clearance from Brazil's Administrative Council for Economic Defense (CADE).Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm [C65] Exhibit 99.1, opening paragraphwith the transition targeted for January 2027Aura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm

Our call's bar sits just under the $82.56 close before this release. We lean yes for three reasons. [P01] IEX close, October 8, 2026AUGO closed at $82.56 on October 8, 2026 (IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ At current prices a repeat quarter clears the low end. The forecast-price gap is only about 2,500 ounces, and net debt, debt minus cash, is just 0.21 times adjusted EBITDA. [C3] Exhibit 99.1, nine-month paragraphIn the nine months of 2026 (9M 2026), Aura produced 253,131 GEO at current prices and 255,268 GEO at constant pricesAura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C1] Exhibit 99.1, opening paragraphTotal production in Q3 2026, at current prices, reached 95,557 gold equivalent ounces ("GEO") 1, record high production, with 27% increase compared to the previous quarter and 29% higher when compared to Q3 2025.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C24] Exhibit 99.1, section 7, Guidance vs. Actual production tableGold equivalent ounces production ('000 GEO) - 2026 Low High H1 2026 H1 2026 at Guidance metal prices% Aranzazu 68 76 34 31 46%-41% Apoena 37 44 13 13 35% - 30% Minosa 63 70 32 32 51% - 46% Almas 57 63 32 32 56% - 51% Borborema 65 77 31 31 48% - 40% MSG 50 60 16 16 32% - 27% Total 340 390 158 155 46%-40%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm [C4] Exhibit 99.1, production table, guidance-price rowTotal GEO produced - Guidance Prices 91,188 73,083 73,598 25% 24% 246,341 194,267 27%Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C35] Exhibit 99.1, net debt breakdown tableNet Debt 168,026 115,181 46% 280,560 -40% Net Debt/LTM EBITDA 0.21xAura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm Going by the July 10 and October 9 releases, the fourth-quarter update should come in January. [C87] Q2 2026 preliminary production release, datelineROAD TOWN, British Virgin Islands, July 10, 2026 (GLOBE NEWSWIRE)Aura Minerals Form 6-K, Exhibit 99.1: preliminary second-quarter 2026 production, filed July 10, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326004568/exh_991.htm [C88] Exhibit 99.1, datelineROAD TOWN, British Virgin Islands, Oct. 09, 2026 (GLOBE NEWSWIRE)Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm Output below about 93,700 ounces at forecast prices would break the call. [C4] Exhibit 99.1, production table, guidance-price rowTotal GEO produced - Guidance Prices 91,188 73,083 73,598 25% 24% 246,341 194,267 27%Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm [C24] Exhibit 99.1, section 7, Guidance vs. Actual production tableGold equivalent ounces production ('000 GEO) - 2026 Low High H1 2026 H1 2026 at Guidance metal prices% Aranzazu 68 76 34 31 46%-41% Apoena 37 44 13 13 35% - 30% Minosa 63 70 32 32 51% - 46% Almas 57 63 32 32 56% - 51% Borborema 65 77 31 31 48% - 40% MSG 50 60 16 16 32% - 27% Total 340 390 158 155 46%-40%Aura Minerals Form 6-K, Exhibit 99.1: second-quarter 2026 earnings release, filed August 5, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326005260/exh_991.htm So would a gold drop like the one that sent AUGO to $77.79 on September 28, or more selling by Kapitalo's funds. [P08] IEX close, September 28, 2026AUGO closed at $77.79 on September 28, 2026 (IEX)IEX closing prices for AUGOOpen source ↗https://iextrading.com/trading/market-data/ [C85] Form 144, earliest sale in the past three months<saleDate>08/19/2026</saleDate>Form 144 notice of proposed sale by the Kapitalo Master III fund, filed September 29, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000212675226000025/primary_doc.xml [C95] Form 4, footnote 5These shares were sold in multiple transactions at prices ranging from $89.85 to $90.80, inclusive.Form 4 of Aura director Bruno Mauad (Kapitalo) for September 22 trades, filed September 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000211790526000042/primary_doc.xml

What is still unknown

The production release gives no revenue, cost, cash flow or profit for the quarter. Those come with full results. No date for them is set in the filings.

How many collar ounces settled in the third quarter is not disclosed. Nor is the cash cost.

The release does not say whether the mine targets for Apoena, Serra Grande and Minosa still stand. It says only that Aura remains on track for the full year. [C5] Exhibit 99.1, chief executive's commentAs expected, Q3 was a clear step up from Q2, and with the further increase we expect in Q4 we remain on track to meet our full-year guidance.Aura Minerals Form 6-K, Exhibit 99.1: preliminary third-quarter 2026 production, filed October 9, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006547/exh_991.htm

A Kapitalo fund gave notice of a planned receipt sale as late as September 29; whether its sales have ended is not disclosed. [C86] Form 144, approximate date of the planned sale<approxSaleDate>09/29/2026</approxSaleDate>Form 144 notice of proposed sale by the Kapitalo Master III fund, filed September 29, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000212675226000025/primary_doc.xml

Buybacks since June 30 under the $200 million program are not disclosed. [C55] Exhibit 99.1, repurchase programsUnder the Repurchase Programs, Aura may repurchase up to an aggregate US$200 million of its outstanding common shares and Brazilian Depositary Receipts in the open marketAura Minerals Form 6-K, Exhibit 99.1: share repurchase programs, filed June 23, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326004225/exh_991.htm

Whether the $200 million loan is drawn is not disclosed. Its covenants and security are not either. [C57] Exhibit 99.1, loan announcementin the aggregate principal amount of US$200,000,000.00 (two hundred million dollars), as borrower at the holding company level.Aura Minerals Form 6-K, Exhibit 99.1: $200 million syndicated loan, filed September 18, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006108/exh_991.htm

Part of the fleet price depends on performance during the handover. The size of that part is not disclosed. Nor are the seller's name or the closing date. [C67] Exhibit 99.1, deal structurewith a portion of the consideration subject to performance during the transition periodAura Minerals Form 6-K, Exhibit 99.1: mining fleet insourcing at Apoena, Almas and Borborema, filed October 2, 2026Open exact filing on SEC EDGAR ↗https://www.sec.gov/Archives/edgar/data/1468642/000117184326006348/exh_991.htm

The question that remains

Will AUGO be above $82 at the end of next January?

Our call: We say YES

We find out by January 29, 2027.

Sources

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